Artificial Intelligence (AI) in Cyber Security Market Next Big Thing BAE Systems, Cisco

openpr | April 21, 2020

Artificial Intelligence (AI) in Cyber Security Market Next Big Thing BAE Systems, Cisco
The globally increasing IoT adoption and the number of connected devices have simultaneously increased the risk of cyberattacks. The rising number of cybercrimes is propelling the artificial intelligence (AI) in cyber security market. Some common cyber frauds faced by large enterprises are identity and payment card thefts, these cybercrimes when not resolved on time can lead to huge monetary losses. Cybersecurity providers are significantly using AI solutions for tackling such cyberattacks by early threat detection, response time reduction, and segregation as per priority.

Spotlight

"Many security experts associate advanced persistent threats (APTs) with custom malware, specifically designed for the target of an attack. However, a host of recent attacks reveal that off-the-shelf malware is becoming a significant player in APT attacks.

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DATA SECURITY

Cybersecurity Startup BitTrap Develops Groundbreaking Detection Technology to Address Surge in Cyberattacks

BitTrap | October 05, 2021

Startup company BitTrap has announced a blockchain-based cybersecurity solution that leverages attackers' motivations to provide singular detection capabilities. This approach differs from cybersecurity paradigms that focus on trying to keep attackers from breaking in. Instead, it assumes some have already made their way inside a network, undetected, and is designed to identify them and reduce hacker dwell time in the compromised system. The system works by deploying a vast network of wallets in every endpoint or cloud instance. Each wallet contains a risk-adjusted bounty of cryptocurrency assets calibrated, based on research from the BitTrap Attacker Behavioral Labs, to ensure it will capture an attacker's attention. Collecting the bounty triggers an incident-response operation that alerts the organization of the breach, effectively causing the hacker to reveal their presence. The vulnerability can be quickly assessed and patched while avoiding ransomware and data exfiltration altogether. BitTrap began operations in 2020 after cyberattacks multiplied during the global pandemic. The company's founders, who combine decades of industry experience in cybersecurity and expertise in attacker behavior, developed the groundbreaking technology to help companies actually benefit from cyberattacks. "It is very important to capitalize on security incidents, using each opportunity to learn and prioritize efforts," said BitTrap CTO Ariel Futoransky. "We need to understand our adversaries' main motivation and use it to overcome our challenges and reduce the impact of attacks. With our unique approach, we can tackle both issues at the same time. We go a long way beyond intrusion detection or deception." The company is particularly proud of the new solution. Through the company's Attacker Behavioral Labs, Altszul said, "We intend to keep investing and developing the most sophisticated capacity in the industry to understand attacker behavior. After our initial success, we are getting ready to raise a new round of financing to fuel our expansion in the market. BitTrap CEO Jonatan Altszul About BitTrap BitTrap is a cybersecurity solution company with a groundbreaking crypto approach, changing how companies face and resolve attacks while saving money along the way. BitTrap triggers immediate alarms using risk-adjusted economic incentives to reveal vulnerabilities without compromising performance. We go far beyond deception technology.

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DATA SECURITY

To speed up the distribution of cyber insurance for small companies, Cowbell Cyber Partners with Mylo

prnewswire | November 05, 2020

Cowbell Cyber, the business' first AI-controlled digital protection supplier for little to moderate sized organizations (SMBs), today declared it has cooperated with Mylo – the advanced specialist dispatched by the world's biggest free merchant, Lockton – to empower expanded dispersion of Cowbell's independent digital protection to the private company market, a territory customarily underserved by digital protection. Organizations of all sizes are getting more dependent on an advanced climate given the present far off setting, regularly leaving them presented to expanded online protection weaknesses including information penetrates, ransomware assaults, digital wrongdoing, and then some. Along these lines, the interest in digital inclusion has definitely expanded as organizations acknowledge digital protection is currently a need, not an extravagance. Mylo chose Cowbell Cyber in light of the fact that Cowbell Prime – Cowbell's independent, conceded digital protection programs – addresses the difficulties looked by private companies while considering protection including: Lucidity of the arrangement terms: entrepreneurs can now quickly comprehend the insurance they will get Importance: Quote and strategies are adjustable in a couple of snaps for higher significance for the policyholder Conceded program: Ensures that everything has been altogether verified by state level offices Prevalent danger the board apparatuses: Free danger appraisal and moderation devices increase the value of private venture on the very first moment of the strategy "We are excited to partner with Mylo to deliver on the promise of customized cyber coverage and easy-to-use risk management tools for their expanding client base," said Dan Law, Head of National Accounts at Cowbell Cyber. "Partnering with Mylo will allow us to better distribute cyber insurance to the currently underserved markets, ultimately helping customers with their cyber resilience." "As an advocate for small business owners, we care about helping them prepare for a cyberattack that could threaten everything they've worked so hard to build," said Mylo COO, Belen Tokarski. "Mylo and Cowbell Cyber are a great fit because we both focus on using technology to give businesses the protection they need to anticipate and recover from serious risks." The association carries critical efficiencies to Mylo's operators including: Speed: Cowbell Prime empowers operators to set up different, tweaked cites in a couple of snaps Usability and straightforwardness: Selling of digital protection is rearranged with inclusions that are introduced to policyholders in a straightforward way, alongside Cowbell Factors to recognize hazard deviation from the business normal No coupling delays: Every statement gave by Cowbell Prime can be momentarily bound About Cowbell Cyber Cowbell Cyber is dedicated to providing standalone, admitted, individualized and easy-to-understand cyber insurance for small and mid-size businesses. In its unique AI-based approach to risk selection and pricing, Cowbell's continuous underwriting platform, powered by Cowbell Factors, compresses the insurance process from submission to issue to less than 5 minutes. Cowbell Insurance Agency is currently licensed in 34 U.S. states and provides SMBs with admitted cyber insurance on AM Best "A" rated paper with up to $15 Million in coverage. About Mylo Mylo is a digital one-stop-shop that makes it easy for businesses and individuals to compare and purchase top-rated insurance products from multiple carriers, including business, small group benefits, home, auto, life and individual health. Launched in 2015 by Lockton, the world's largest privately held independent insurance broker, Mylo offers expert insurance recommendations online or on the phone with licensed agents. Mylo can be easily integrated into a partner's customer experience, providing a proven boost in customer engagement.

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DATA SECURITY

Area 1 Security and SolCyber Partner to Deliver the Only Managed Preemptive Cloud Email Security to the Midmarket

Area 1 Security | October 22, 2021

Area 1 Security has been selected as the primary cloud email security provider for all customers of SolCyber, the first modern MSSP for the midmarket. Area 1's industry-first preemptive cloud email security stops phishing campaigns 24 days (on average) before they launch — keeping inboxes clean of threats that cause 95% of cybersecurity incidents. The SolCyber and Area 1 partnership brings best-in-class email protection to midsize organizations, which are increasingly targeted by phishing attacks. According to a recent survey by RSM US LLP in partnership with the U.S. Chamber of Commerce, 45% of mid-market executives said that social engineering attacks were successful last year — despite 90% of their organizations providing security awareness training. Additionally, 33% of mid-market executives disclosed that they experienced a ransomware attack or demand in 2020. The implications for mid-market organizations — which typically have fewer in-house resources and specialty expertise compared to larger organizations —are significant and costly. In fact, of the mid-market businesses that have experienced a cyberattack, 63% are unable to resume normal business operations for over a month. In one 12-month period, Area 1 Security prevented more than half a billion dollars in direct losses for its customers, including some of the world's largest healthcare, financial services, retail and consumer goods brands. Its cloud-scale solution is one of the core components in SolCyber's Foundational offering, a simple-to-implement curated technology stack, which also includes endpoint with EDR capabilities, lateral movement detection, and active directory and admin exploitation prevention. We're very excited about our partnership with Area 1 Security. They have an amazing web crawling infrastructure that gives early warning protection that really matters to our customers. It's not often you can find a preemptive security technology that really works, and provides immediate value,Our customers want to stop ransomware and other cyber threats to their businesses. Period. But they typically don't have the time or resources to build a mature security posture on their own. Area 1 fits seamlessly into our Foundational Coverage, it deploys in minutes and is highly scalable, accelerating our customers' time to realize true value. SolCyber CEO Scott McCrady "We are thrilled to partner with a modern MSSP with an extremely user-friendly model. Like Area 1, SolCyber is committed to making it easy for organizations of all sizes to deploy best-in-class cloud-based security," said Steve Pataky, chief revenue officer of Area 1 Security. "We look forward to getting all of SolCyber's customers to INBOX.CLEAN™ — an inbox free of ever-evolving threats that defraud companies of data, dollars and brand confidence." About SolCyber SolCyber, a ForgePoint company, is the first modern MSSP to deliver a curated stack of enterprise strength security tools and services that are streamlined, accessible and affordable for any organization. SolCyber is disrupting the status quo, by providing a new standard of managed security services that work to reduce cyber risk, wastage and complexity. We believe in a secure environment for all. For more information about SolCyber, visit solcyber.com or follow us at @SolCyberMss or on LinkedIn. About Area 1 Security Area 1 Security is the only company that preemptively stops Business Email Compromise, malware, ransomware and targeted phishing attacks. By focusing on the earliest stages of an attack, Area 1 stops phish — the root cause of 95 percent of breaches — 24 days (on average) before they launch. Area 1 also offers the cybersecurity industry's first and only performance-based pricing model, Pay-per-Phish. Area 1 is trusted by government agencies and Fortune 500 enterprises across financial services, healthcare, critical infrastructure and other industries, to preempt targeted phishing attacks, improve their cybersecurity posture, and change outcomes.

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Spotlight

"Many security experts associate advanced persistent threats (APTs) with custom malware, specifically designed for the target of an attack. However, a host of recent attacks reveal that off-the-shelf malware is becoming a significant player in APT attacks.